Journal of Forest Economics > Vol 13 > Issue 1

Heterogeneity in nonindustrial private roundwood supply: Lessons from a large panel of forest owners

Torjus Folsland Bolkesjø, , torjus.bolkesjo@umb.no Birger Solberg, , birger.solberg@umb.no Knut Reidar Wangen, , knut.reidar.wangen@ssb.no
 
Suggested Citation
Torjus Folsland Bolkesjø, Birger Solberg and Knut Reidar Wangen (2007), "Heterogeneity in nonindustrial private roundwood supply: Lessons from a large panel of forest owners", Journal of Forest Economics: Vol. 13: No. 1, pp 7-28. http://dx.doi.org/10.1016/j.jfe.2006.08.003

Published: 15 May 2007
© 0 2007 Torjus Folsland Bolkesjø, Birger Solberg, Knut Reidar Wangen
 
Subjects
 
Keywords
JEL Codes:N500Q230
Timber supplyPanel dataLong runPooled Tobit modelFixed effect Tobit modelRandom effect Tobit model
 

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In this article:
Introduction
Methodology
Results and discussion
Summary and conclusions

Abstract

This study examines heterogeneity in nonindustrial private forest owners’ timber supply by using a large panel data set of Norwegian landowners. The full sample is divided into more homogenous subsamples. We apply four econometric panel data specifications. Three of the specifications have seldom or never been applied previously in such a supply analysis. Interpretations and results for estimated slope parameters vary substantially between estimators. Supply responses differ considerably with respect to property size and across regions. Changes in roundwood prices and interest rates are the main determinants explaining the decrease in supply during the period 1989–1997. Future roundwood supply analysis should preferably account for heterogeneity in order to avoid inconsistent estimators that could mislead decision makers.

DOI:10.1016/j.jfe.2006.08.003